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The Income and Tax Calculator service enables both registered and unregistered e-Filing users to calculate tax as per the provisions of Income Tax Act, Income-tax rules, Notifications etc. by providing inputs with respect to income (s) earned and deductions claimed as per the Act.
- Salaried Individuals for AY 2024-25
regime, taxpayers have the option to claim various tax...
- Salaried Individuals for AY 2024-25
Quantum of rebate shall be an amount equal to hundred per cent of such income-tax or an amount of Rs. 12,500, whichever is less. Further, a maximum rebate of Rs. 25,000 is allowed under 87A from the amount of income tax on total income, which is chargeable to tax under section 115BAC(1A).
4 Νοε 2024 · e-Filing of Income Tax Return or Forms and other value added services & Intimation, Rectification, Refund and other Income Tax Processing Related Queries
Income-tax Act allows three deductions from the salary income, i.e., Standard Deduction, Deduction for Entertainment Allowance, and Deduction for Professional Tax. Standard Deduction is allowed to every employee whose income is taxable under the head salary. In contrast, the other two deductions are allowed subject to certain conditions.
17 Ιουν 2024 · Salaried employees have significant income tax deduction opportunities. Major deductions include HRA, standard deduction, LTA, books and periodicals, and gratuity. Other savings avenues include section 80C for investments, section 80D for medical expenses, section 24 for home loan interest, and section 80E for education loan interest.
6 Σεπ 2024 · In this article we have discussed Income Tax deduction available to Taxpayers from various sources of Income for A.Y. 2025-26 / F.Y. 2024-25 and subsequent Years.
regime, taxpayers have the option to claim various tax deductions and exemptions.